Thai Baht, Stocks Gain as First-Quarter Growth Beats Estimates

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hhfarang
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Thai Baht, Stocks Gain as First-Quarter Growth Beats Estimates

Post by hhfarang »

"Thailand’s baht and stocks rose after Southeast Asia’s second-biggest economy expanded more than analysts estimated, spurred by the military government’s increased spending.

The currency climbed 0.3 percent to 35.366 per dollar as of 4:14 p.m. in Bangkok, halting a five-day loss, according to data compiled by Bloomberg. It was the baht’s biggest gain since April 29. The SET Index of shares increased 0.2 percent. ..."

http://www.bloomberg.com/news/articles/ ... -estimates
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Re: Thai Baht, Stocks Gain as First-Quarter Growth Beats Estimates

Post by Bluesky »

It will be interesting to see where the SET will go from here, likewise if the Baht continues to strengthen currency cross rates.
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Re: Thai Baht, Stocks Gain as First-Quarter Growth Beats Estimates

Post by Bluesky »

Should read 'if the baht continues to strengthen against currency cross rates'
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Re: Thai Baht, Stocks Gain as First-Quarter Growth Beats Estimates

Post by Bluesky »

hhfarang wrote:"Thailand’s baht and stocks rose after Southeast Asia’s second-biggest economy expanded more than analysts estimated, spurred by the military government’s increased spending.

The currency climbed 0.3 percent to 35.366 per dollar as of 4:14 p.m. in Bangkok, halting a five-day loss, according to data



With BREXIT vote looming in the UK on the 23 June the GBP will certainly be in focus against the appreciating THB. Depending on the outcome of the vote and prevailing sentiment, it could be either positive or negative for the Pound.


Forex - GBP/USD Technical Analysis: Pair Breaks Major Support
By Jan Jursa May 16, 2016 - 4:24 PM

GBP/USD has broken the major support and could decline as low as $1.4240.

Forex - GBP/USD Technical Analysis: Pair Breaks Major Support
London - The so-called cable broke a major support at $1.43650 and could now fall as low as $1.4240.

A major support is seen at $1.4367, which is the 200-day moving average on the four-hour chart, while a major resistance is at $1.4450, which is the 55-day exponential moving average on the four-hour chart.

The pair broke major support at $1.4367, declined to $1.4342 and before trading around $1.4354 on Monday.

On the lower side, any break below $1.4365 would drag the pair down to levels around $1.4300, then further to $1.4270.

A minor resistance is around $1.4400 and any break above this level would take the pair to $1.4450.

For a change of trend, which is currently strongly bearish, the pair would have to get above $1.4600.


https://wbponline.com/Articles/View/632 ... or-support
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Re: Thai Baht, Stocks Gain as First-Quarter Growth Beats Estimates

Post by PET »

To make it simple for the pound observers -
If UK remain the pound will appreciate all that it has lost in the last 2 months.
If Brexit then the pound will decline further.

Personally I support Brexit and am confident the pound will rebound to earlier levels within a year or less and then even more.

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